A partnership between two advertisers, often facilitated by a brand-to-brand partnership platform. Essentially one brand is promoting another to their user base and may be earning an additional revenue stream from the activity in the form of commission.
Example: A beauty retailer may feature another retailer on their confirmation page to encourage upsell, spend an extra £20 and receive an exclusive % off voucher for a fashion brand. The beauty retailer gets to use the offer to increase their AOV and the fashion retailer gets a new customer.
References: Awin, Tyviso, Brand Swap